Answer:
The opportunity cost of producing a pound of bananas is 2 pounds of apples.
Explanation:
At a point on the production possibilities frontier, 500 pounds of apples and 1,200 pounds of bananas are being produced.
When quantity of bananas is increased by 100 pounds from 1,200 to 1,300 pounds, the quantity of apples declined by 200 pounds, from 500 pounds to 300 pounds.
The opportunity cost of producing a pound of bananas
= 
= 
= 2 pounds of apples
Answer: A work team
Explanation: A work team is a group of employees that works semiautonomously on recurring tasks. Work teams are most useful where job content changes frequently and employees with limited skills and a specific set of duties are unable to cope. In a work team , a small number of people with complementary skills who hold themselves mutually accountable for pursuing a common purpose, achieving performance goals, and improving interdependent work processes. Contemporary businesses thrive with the use of work teams in creating products, solving problems and developing alternatives. There are many ways that work teams add to the productivity and success of a company. Work teams are most efficient when job content changes and expert advice are needed to complete a set of work with different skills. Functional, cross-functional, and self-managing teams are the three different types of teams that can be found within a company. Each has its own specific goals and objectives. Accomplish projects - Many workplace tasks are too complicated for one employee to complete. The work team allows larger, more complicated projects to be completed and work teams allow many different viewpoints, which correlate to many different options in solutions.
Answer:
Explanation:
No matter what the future holds, an economics major helps people succeed. Understanding how decisions are made, how markets work, how rules affect outcomes, and how economic forces drive social systems will equip people to make better decisions and solve more problems. This translates to success in work and in life.
